Today’s Market Runner: Could Atkore International Group Inc Lose its Strength? The Stock Reaches 52-Week High

November 11, 2016November 11, 2016Peter Erickson

The stock of Atkore International Group Inc (NYSE:ATKR) hit a new 52-week high and has $26.77 target or 22.00% above today’s $21.94 share price. The 6 months bullish chart indicates low risk for the $1.44 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $26.77 price target is reached, the company will be worth $316.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 78,825 shares traded hands. Atkore International Group Inc (NYSE:ATKR) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

According to Zacks Investment Research, “Atkore International Group Inc. manufactures and distributes electrical raceway products. It offers steel tubes and pipes, electrical conduit, armored wire and cable, cable trays, metal framing systems and building components. Atkore International Group Inc. is based in Harvey, Illinois.”

More notable recent Atkore International Group Inc (NYSE:ATKR) news were published by: Marketwatch.com which released: “Atkore International Group trading above issue price in market debut” on June 10, 2016, also Marketwatch.com with their article: “Atkore International Group Inc.” published on April 21, 2016, Businesswire.com published: “Keith Whisenand Joins Atkore International as Vice President of Investor Relations” on August 09, 2016. More interesting news about Atkore International Group Inc (NYSE:ATKR) were released by: Businesswire.com and their article: “Atkore International Group Inc. Presents at Deutsche Bank Leveraged Finance …” published on September 27, 2016 as well as Businesswire.com‘s news article titled: “Atkore International Group Inc. Prices Initial Public Offering of Common Stock” with publication date: June 09, 2016.